AGF Management Ltd. Decreases Position in Philip Morris International Inc. (NYSE:PM)

AGF Management Ltd. decreased its stake in Philip Morris International Inc. (NYSE:PM) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 640,740 shares of the company’s stock after selling 24,589 shares during the period. AGF Management Ltd.’s holdings in Philip Morris International were worth $101,705,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PM. Nuveen LLC purchased a new position in Philip Morris International in the first quarter valued at about $1,712,994,000. GAMMA Investing LLC boosted its holdings in Philip Morris International by 19,986.5% in the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company’s stock valued at $712,210,000 after purchasing an additional 4,464,590 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in Philip Morris International by 372.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company’s stock valued at $656,303,000 after purchasing an additional 4,298,530 shares during the last quarter. Capital World Investors boosted its holdings in Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Philip Morris International by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after purchasing an additional 3,575,158 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 1.2%

Shares of Philip Morris International stock opened at $170.23 on Monday. The business’s 50 day simple moving average is $176.29 and its 200-day simple moving average is $163.71. The stock has a market capitalization of $264.98 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 2.48 and a beta of 0.48. Philip Morris International Inc. has a twelve month low of $115.62 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. The business had revenue of $10.14 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.59 EPS. Sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, June 27th. Philip Morris International’s dividend payout ratio (DPR) is currently 102.66%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PM shares. Jefferies Financial Group began coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price target for the company. UBS Group increased their target price on Philip Morris International from $170.00 to $181.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. KGI Securities began coverage on Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating on the stock. Stifel Nicolaus increased their target price on Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.27.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.